We are in exciting times. Robotic process automation (RPA) is cutting-edge technology that is already in widespread use and delivering strong return on investment in industries and sectors of all kinds.

RPA is enhancing operational efficiency by allowing bots, or ‘digital workers’ to perform manual, repetitive tasks once done by human workers. RPA not only has a positive impact on accuracy, productivity and the bottom line, but also it allows for a more motivated workforce who can then concentrate on more interesting and less laborious parts of their jobs.

Written by Genevieve Gonzalez, Director of Professional Service, Asia-Pacific, Ventiv

In my role, I’ve had a lot of experience working with risk managers to embed time and resource saving technologies into their business processes, and often encounter a nervousness around how such innovations might impact on the business and their employees; one of the most common fears is that automation will replace employees rather than enable them to do a better, more efficient job.

For many risk managers out there, now is when you are looking at your insurance renewals ahead of the 1st January. Did you realise that this is also a great opportunity to consider your risk management needs?

Much of the AI discussion to date has been about the risks and rewards that it offers. For example, while there have been high profile stories about the risks of automated vehicle crashes many commentators are predicting long-term impact on the future of motor insurance. Warren Buffet no less believes safer vehicles will see the motor insurance industry reduce by 60% over the next 25 years. When you consider that motor insurance accounts for 40% of the industry, that is a pretty seismic change.

We are delighted to be a finalist for Technology Innovation of the Year at the European Risk Management Awards. We based our award submission on a technology solution we developed for a Ventiv client—Nestlé—in collaboration with Zurich Insurance Group. More specifically, the solution for which we’ve been shortlisted utilises application programming interface (API) technology to integrate Zurich’s My Zurich platform with Nestlé’s instance of Ventiv’s RiskConsole RMIS.

According to an Airmic report from summer 2017, “More than a third of risk managers (35%) say that their use of analytics tools today is limited, but within three years, more than half of risk managers (56%) expect to be using data analytics extensively in their roles.” Ventiv is committed to helping risk managers move from the status quo—limited use of analytics tools—into an analytics-centric future. That’s why we partnered with Aon Risk Solutions to produce a white paper called “Driving the Data Dividend. Making Use of Analytics in Risk Management.” Produced specially for Airmic members, we’re delighted to make this paper available to a wider audience.

I’m delighted to report that Ventiv Technology has been shortlisted for the ninth annual 2018 CIR Risk Management Awards in the category of Best Use of Technology in Risk Management. We based our award submission on a technology solution we developed for a Ventiv client—Nestlé—in collaboration with Zurich Insurance Group. More specifically, the solution for which we’ve been shortlisted utilises application programming interface (API) technology to integrate Zurich’s My Zurich platform with Nestlé’s instance of Ventiv’s RiskConsole RMIS.

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